Thinking of buying a home? Now’s the time to make it happen

Rents have increased the most in Brisbane in at least three years. Image: AAP/Darren England.

BRISBANE’S housing market is slowly giving the keys back to landlords, with new figures revealing the city recorded its strongest annual rise in rents in three years.

After months of flat growth in rental properties, analysis of the latest CoreLogic data by realestate.com.au shows house rents increased 2.4 per cent in 2018, while the cost of leasing a unit became 2.6 per cent more expensive.

Industry experts say the data shows now is the time to buy in the Brisbane market.

REA Group/realestate.com.au chief economist Nerida Conisbee.

Realestate.com.au chief economist Nerida Conisbee said the only way was up for rents in the city from here on, as underlying demand in the Brisbane market began to absorb rental supply, putting upward pressure on rents.

“Now is actually a good time to look to buy because we are looking to see further increases in rental levels,” Ms Conisbee said.

“The reason being we have fewer new developments going ahead and also fewer investors in the market.”

Ms Conisbee said a change of government at this year’s federal election would prompt a further drawback in investor activity, with Labor planning to overhaul negative gearing and capital gains tax concessions.

“Queensland is also attracting a lot of people, so there’s going to be more homes needed,” she said.”

Disclaimer: The information published in this section is of a
general nature only and does not consider your personal objectives, financial
situation or particular needs. Where indicated, third parties have written and
supplied the content and we are not responsible for it. We make no warranty as
to the accuracy, completeness or reliability of the information, nor do we
accept any liability or responsibility arising in any way from omissions or
errors contained in the content. We do not recommend sponsored lenders or loan
products and we cannot introduce you to sponsored lenders. We strongly
recommend that you obtain independent advice before you act on the content.